CFP Board Candidate Open Forum

  • 1.  Study hours

    Posted 12-14-2017 19:18
    I recently finished my last course needed to be able to sit for the CFP exam. I wanted your opinion as to whether I should take the exam in March or July? I wasn't sure if two and half months is enough prep time. 
    Also what is your favorite CFP prep course books? Iv looked into Kaplan and Kier. I would love a traditional classroom however no where offers a class in St Louis which is where I am located. 
    Thanks for your guidance!

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    Meagan Isselhard
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  • 2.  RE: Study hours

    Posted 12-15-2017 09:52
    Edited by Peter Stebelton 03-06-2019 16:41
    If it were me, I would do July and use Dalton review; their prep was on point & practice questions were great.

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    Pete CFA, CFP®
    Portfolio Manager
    Fifth Third Private Bank
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  • 3.  RE: Study hours

    Posted 12-15-2017 16:02
    Meagan,

    My approach was to take the exam at the first available date, after completion of my Boston U course (Don't let the knowledge recede).  Not sure what course you used, but I suspect they provided you with books, test bank, and structured instruction. 

    At this point you have worked hard to understand the coursework and master it.  I would encourage you to use that momentum over the next three months to commit to a study/review schedule.

    • Create a calendar outline for next three months (review each section / take practice exams / complete case scenarios) - Your program should have provided you with the resources you need to do this.
    • Complement it with a prep course if you feel that will help.
    • Get the CFP practice exams and get comfortable with the exam format, as well as wording and intent of questions (best thing to gain confidence in what to expect).  Give up a couple Saturdays to actually do an exam mock up (timed and free of distractions).  It's grueling but it will build your confidence.
    • Stick to your study schedule and adjust to give your weaker areas the time necessary to be proficient. 
    • Be will rested and plan to arrive early on test day.  Dress in layers, in case the test area is really cold. Bring a snack and some water. 
    For many of us, this was the hardest exam we have taken.  However, if your life allows you to be disciplined, and you are incentivized to do this, you will get it done. 

    Wishing you the best.

    Steven

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    Steven Fox-Middleton
    SFM Financial Advisors, LLC
    360-513-0077
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  • 4.  RE: Study hours

    Posted 12-21-2017 00:28
    If it were me I would just take it the next offering. I finished my classes December 2016 and delayed taking the exam until November 2017 because of the study commitment.

    Looking back at it. I should have done it in March. I took the 4 day Kaplan live review course and maybe 100 hours of time outside of that class--which included doing about 70% of the Qbank questions. 

    I don't know why I don't hear more recommendation for Kaplan on here. But, I've used their prep classes for every licensing exam and thought they did a really good job preparing me. I'm 30 years old and its not like I have decades of industry experience either. 

    I went to bed the night before the exam thinking I had a 50/50 chance of passing the test because i was scoring around 70% on the released questions and Qbank. The most difficult part of the released questions/exams are that they're outdated and rules/#s have changed greatly--so it gave a false sense of unreadiness. However, when I pressed the button to submit my answers on the exam--there was no doubt that I didn't think I passed. I finished the exam in 3.5 hours (skipped my break).

    This is a story about how great I think Kaplan is--not how "wonderful" I think I am.

    Just do it.